moonchild
VIP Contributor
Everyone says they don't like ranging markets because markets do not have any specific direction and it just moves sporadically well, in my opinion which ever way the market moves is not going to be more than upwards or downwards and most times market do ranges even though not as much as the 40% being exaggerated on most trading books.
So in a ranging market the best you can do is draw your support and resistance zones and wait for price to hit these specific zones, after price have hit them take a trade and then place your stop. Loss above it and then add to your position as it goes in your favor.
Also pay attention to reversal whenever you notice a reversal is happening get out of all of your position and bank your profits failure to do this will make you lose the profits you've made initially, how do you trade a ranging markets?
So in a ranging market the best you can do is draw your support and resistance zones and wait for price to hit these specific zones, after price have hit them take a trade and then place your stop. Loss above it and then add to your position as it goes in your favor.
Also pay attention to reversal whenever you notice a reversal is happening get out of all of your position and bank your profits failure to do this will make you lose the profits you've made initially, how do you trade a ranging markets?
